Graybel Investments And Quad Property Group Acquire Cordova Creek Apartments For $22 Million

The property involved in this transaction is the 196-unit Cordova Creek Apartments located at 7965 Humphreys Hill Drive in Cordova, TN. The multifamily asset spans 19.5 acres and was sold for $22,000,000, translating to approximately $112,245 per unit and a price per acre of $1,128,205.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,000,000
• Buyer: Graybel Investments & Quad Property Group
• Seller: Affiliate of Stoneweg
• Broker: Newmark
• Units: 196
• Acres: 19.5
• Price Per Unit: $112,245
• Price Per Acre: $1,128,205

This transaction marks a notable venture where Graybel Investments and Quad Property Group acquired the property from an affiliate of Stoneweg, showcasing a modest gain since the asset's purchase in 2018 for $19,000,000.